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Wednesday, Nov 06, 2002

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Money & Banking - Regional Rural Banks
Corporate Results - Regional Rural Banks

South Malabar Gramin Bank H1 net at Rs 7.58 cr

Our Bureau

KOCHI, Nov. 5

SOUTH Malabar Gramin Bank has scaled the number one position among the regional rural banks with a total business volume of Rs 1,356 crore as on September 2002, according to a fax received from the bank.

It made a profit of Rs 7.58 crore (Rs 6.4 crore) during the first half of the current year.

The deposit base grew by 27 per cent to touch Rs 664 crore while advances grew by 14 per cent to Rs 692 crore. The bank continued to maintain the number one position in advances and disbursement and has a high recovery percentage of 89 per cent, the fax said.

Against the state average of 43 per cent, the bank continued to maintain a CD ratio of 104 per cent.

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